Investors can buy shares for as little as ₦5,250 as Dangote Refinery opens ownership to the public
Dangote Petroleum Refinery and Petrochemicals FZE has commenced its Initial Public Offering (IPO), marking a major development for Nigeria’s capital market.
The public offer officially opens on Monday, September 14, 2026, giving Nigerians and other eligible investors an opportunity to acquire shares in Africa’s largest refinery.
The IPO consists of 4.1 billion new ordinary shares priced at ₦525 each.
Investors can subscribe for a minimum of 10 shares, valued at ₦5,250.
The offer is expected to remain open until October 13, 2026, subject to the terms contained in the prospectus.
The company said the offering is targeted at retail and institutional investors, as well as eligible investors across Africa.
Dangote Targets ₦2.15tn From IPO
The refinery expects the public offer to raise approximately ₦2.15 trillion.
According to the company, proceeds from the IPO will support its long-term growth plans, operational expansion and strategic investments.
The company also said the transaction would create additional value for shareholders and other stakeholders.
Speaking on the IPO, Dangote Industries Limited President and Chief Executive Officer Aliko Dangote described the offering as a new chapter for the refinery and Nigeria’s economy.
Dangote said the IPO would give ordinary Nigerians and other investors an opportunity to participate directly in the refinery’s growth.
He added that the refinery was established to transform Africa’s energy landscape, create jobs, conserve foreign exchange and promote economic development.
NGX Explains Significance
The Group Managing Director and Chief Executive Officer of Nigerian Exchange Group, Temi Popoola, said the IPO represents more than the size of the transaction.
Popoola said it would broaden ownership and strengthen the connection between Nigerian businesses and local investors.
He also highlighted the role of technology in making participation easier for investors.
According to him, NGX Invest and more than 50 distribution channels, including stockbrokers, banks and fintech platforms, will support access to the public offer.
How Investors Can Subscribe
Eligible investors can subscribe through approved distribution channels listed for the offer.
These include NGX Invest, designated commercial banks and authorised investment platforms.
The company said participation is subject to the requirements and provisions contained in the IPO prospectus.
The refinery described the process as accessible, transparent and technology-enabled.
Refinery Positioned as Strategic National Asset
Dangote Refinery has become a major part of Nigeria’s efforts to strengthen domestic refining capacity.
The company said the refinery is helping reduce dependence on imported refined petroleum products and conserve foreign exchange.
It has also supplied petroleum products to domestic and international markets since commencing commercial operations.
The company said the IPO would further support its growth while allowing a broader group of investors to participate in the business.
The public offer will remain open until October 13, giving eligible investors several weeks to decide whether to participate.
